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Property profile & analytics
OFF-MARKET
Estimated value
$2,315,000
Office buildings
224 Fayetteville St Raleigh, NC 27601-1372
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US53-1305798
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1920
Construction
BRICK
Total area
16,410 SF
Lot
0.3 ac (13,068 SF)
Zoning code
DX-40
APN
1703.34-68-8048 0037898
UPID
US53-1305798
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
HHS Trim Up EGS Service General Contractor
-
UNC Family Medicine at Downtown Raleigh Hospital
-
Mamatha Agrawal, MD Pediatrician Physician
-
VitalFlo Health Production Facility
-
Liine (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.32M
Owner & transaction history
Pmc INC · 12 yrs held
Pmc INC
since 2013
7 recorded transactions
Zoning & alternative use
DX-40 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Raleigh submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Raleigh submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,200,000
Current use
Blend value · Realmo final
$2.32M
Range $2.08M – $2.55M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$141 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$82,734
Tax year 2023
Assessed value
$7,079,721
Assessed 2023
Previous assessed
$7,079,721
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$4,569,880
Assessed improvement
$2,509,841
Land market value
$4,569,880
Improvement market value
$2,509,841
Total market value
$7,079,721
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1920
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Total area
16,410 SF
Lot
0.3 ac (13,068 SF)
Zoning code
DX-40
APN
1703.34-68-8048 0037898
UPID
US53-1305798
Jurisdiction
WAKE
Zoning & alternative use
DX-40 · Raleigh, NCZoning DX-40 · permitted uses
DX-40 · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.2M
OFFICE BUILDING Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1920
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
3
Lot
0.3 ac
Current owner
From public records · entity-resolved
Pmc INC
Entity
Mailing address
PO BOX 31182, RALEIGH, NC 27622-1182
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2019
—
Pmc INC
—
Deed
related
$3,500,000 · Towne Bk
Jan 19, 2018
—
Pmc INC
—
Trustees Deed
related
$1,280,220 · First Nat'l Bk/pa
Jan 15, 2016
—
Pmc INC
—
Deed Of Trust
related
$1,083,488 · Newbridge Bk
Sep 16, 2013
$3,200,000
Pmc INC
Stroud,e Stephen
Grant Deed
$1,600,000 · Capstone Bank
Jun 24, 2013
—
E Stephen Stroud
Broad Reach Investments LLC
Quit Claim Deed
related
—
—
—
Pmc INC
—
Deed Of Trust
related
$3,500,000 · Towne Bk
—
—
Broad Reach Investments LLC
—
Deed Of Trust
related
$750,000 · Trustatlantic Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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